Payday Loans in Mount Meigs, Alabama

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No payday loan companies in Mount Meigs, AL. Consider companies in other cities:

Company nameAddressZip codePhone number
Credit Central 1107 7th St S, Clanton, AL 35045 +1 (205) 755 - 2206
State Bank & Trust 7370 US-43, Guin, AL 35563 +1 (205) 468 - 3307
Tower Loan 639 US-72, Athens, AL 35611 +1 (256) 262 - 6838
Cash Max 918 Allison-Bonnett Memorial Dr, Bessemer, AL 35023
Cash Mart Inc 1003 S Broad St, Scottsboro, AL 35768
Check Mate Cash Advance Center 1507 Martin St S 4, Pell City, AL 35128 +1 (205) 338 - 3780
Advance America 5374 US-231, Wetumpka, AL 36092
Tower Loan 202 S Pine St, Florence, AL 35630
Check Into Cash 9921 Parkway E, Birmingham, AL 35215 +1 (205) 854 - 3307
World Finance 2004 US-98 Ste C, Daphne, AL 36526 +1 (251) 625 - 4151

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mount Meigs, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Alabaster, AL, Payday Loans in Albertville, AL, No Credit Check Loans in Anniston, AL, Payday Loan Without a Credit Check in Athens, AL, Payday Loans in Atmore, AL, No Credit Check Loans in Auburn, AL, Payday Loans in Bessemer, AL and No Credit Check Loans in Birmingham, AL. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Mount Meigs, AL.

Are Payday Loans Legal In Mount Meigs, Alabama?

Loan Rates and Fees, Laws and Regulations in Alabama.

Alabama Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)456
Maximum Loan Amount$500
Minimum Loan Term10 days
Maximum Loan Term31 days
Number of Rollovers Allowed1
Finance Charges17.5% of the amount advanced

Mount Meigs, AL payday loan calculator

Payday Loans in Mount Meigs, Alabama: Understanding the Basics

Payday loans are a popular option for those seeking quick cash in Mount Meigs, Alabama. These short-term loans are designed to bridge the gap between paychecks and cover unexpected expenses. Alabama, like many other states, allows payday loans to be offered legally within its borders, but there are certain regulations in place to protect consumers.

How do payday loans work?

Payday loans are typically for small amounts, ranging from $100 to $500 and are designed to be repaid on the borrower’s next payday. The lending process is straightforward, with borrowers completing a simple application and providing proof of income and a checking account. If approved, the lender will then provide the funds, with the expectation that the loan will be paid back in full, plus interest and fees, on the borrower’s next payday.

What are the requirements in Alabama?

Alabama has specific regulations in place to ensure that payday lenders are operating legally and ethically. According to Alabama law, lenders are allowed to charge up to 17.5% interest on loans up to $500. Additionally, the loan term cannot exceed 31 days. Borrowers are limited to one outstanding payday loan at a time and can only have a maximum of $500 in outstanding loans at any given time.

What are the benefits of payday loans?

Payday loans can be a useful resource in situations where people need quick access to cash. The application process is typically quick and easy, requiring minimal documentation. Unlike traditional loans, payday loans do not require a high credit score or a lengthy application process.

What are the risks involved?

While payday loans can be beneficial in certain circumstances, they do come with some risks. One of the biggest risks is the potential for high-interest rates and fees. Borrowers who do not pay off the loan on time can end up drowning in debt, which can affect their credit score and overall financial well-being.

Interesting Facts and Statistics about Payday Loans in Mount Meigs, Alabama

  • In 2019, the payday lending industry in Alabama provided nearly $1.4 billion in short-term loans to borrowers across the state.
  • Alabama has one of the highest concentrations of payday lenders in the country, with over 1,000 licensed locations across the state.
  • According to a study by the Consumer Financial Protection Bureau, the average payday loan borrower in Alabama takes out 8 loans per year, with an average loan amount of $350 each.

Apply Now for a Payday Loan in Mount Meigs, Alabama

If you find yourself in need of quick cash to cover unexpected expenses, TheGuaranteedLoans can help you connect with potential lenders in Mount Meigs, Alabama. Our user-friendly application process is designed to match borrowers with lenders who can offer the best possible terms and interest rates. Remember, TheGuaranteedLoans is a connector service, not a direct lender, and we will facilitate your connection with potential lenders. Apply today and get the funds you need quickly and easily!

F.A.Q.

Are there any fees associated with a payday loan in Mount Meigs, Alabama?

Yes, there are several fees that may be associated with a payday loan in Mount Meigs, Alabama. These may include a loan origination fee, a finance charge, and other fees or charges.

Can I renew a payday loan in Mount Meigs, Alabama?

Yes, you can renew a payday loan in Mount Meigs, Alabama. However, the law sets limits on the number of times you can renew a payday loan, as well as the fees and interest that can be charged on a renewed loan.